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Bitcoin Technical Analysis: BTC/USD bulls face no strong resistance level on path back to $7,000 – Confluence Detector

  • BTC/USD rose from $6,425.80 to $6,666.15 this Wednesday.
  • Strong support lies at $6,510.
Bitcoin Technical Analysis: BTC/USD bulls face no strong resistance level on path back to $7,000 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bears took back control in the early hours of Thursday as the price went down from $6,666.15 to $6,638.80. However, there are no visible resistance levels on the upside, so the price can go up even more. On the downside, strong support lies at $6,510, which has the one-day Fibonacci 38.2% retracement level.


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
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